It's been a rough couple of days in the markets, and fundsters have been feeling the pain, too. Shares in publicly traded asset managers have also fallen, yet the suffering has not been evenly spread across the industry.

The Dow is down 7.03 percent since market close on Thursday, the S&P 500 is down 6.13 percent, and publicly traded mutual fund firms (21 of them tracked by MFWire) are down an average of 6.89 percent. While painful, it's worth noting that, given the asset-based fees that drive this business, asset managers' stocks often magnify the markets' overall gains and falls, so the average asset manager stock only falling as much as the market is not a bad dip for asset managers.

Diamond Hill (DHIL) and Virtus (VRTS) have fared the best so far, seeing their shares drop only 2.52 percent and 3.51 percent respectively over the same two market days.

On the flip side, the biggest sufferers so far are WisdomTree (WETF) and Ivy parent Waddell & Reed (WDR), down 13.78 percent and 10.35 respectively.